X0306 4 2019-06-13 0 0001029730 LADENBURG THALMANN FINANCIAL SERVICES INC. LTS 0001766109 Liebowitz Michael 4400 BISCAYNE BOULEVARD SUITE 818 MIAMI FL 33137 1 0 0 0 Common Stock 2019-06-13 4 A 0 30000 0.00 A 246498 D Common Stock 25000 I MSL18 Holdings LLC Restricted shares of common stock issued pursuant to the issuer's Amended and Restated 2009 Incentive Compensation Plan. Restricted shares vest in two equal annual installments commencing on the first anniversary of the date of grant provided Mr. Liebowitz is then still a director of the issuer, subject to earlier vesting upon his death or disability or a change of control of the issuer. The reporting person is the managing member of MSL18 Holdings LLC. /s/ Michael Liebowitz 2019-06-14